"In mid-March, conspiracy theories swirled claiming Benjamin Netanyahu had been replaced by an AI clone. Though there was no actual proof that the Israeli Prime Minister had been injured or killed, on X this spurred a flurry of posts promoting prediction markets where people bet on whether he would be out of office by March 31st."
"One newly created Polymarket account in particular caught the attention of bettors: dududududu22, which had purchased more than $177,000 worth of 'Yes' shares at 4.7 cents. This makes him possible to get paid of $3,779,000 in case of win."
"Insider trading on prediction markets has become one of the biggest storylines as platforms like Polymarket and rival Kalshi have exploded into the mainstream, generating hundreds of millions of dollars in trades on events like March Madness and geopolitics."
In March, conspiracy theories emerged claiming Israeli Prime Minister Benjamin Netanyahu had been replaced by an AI clone, prompting betting on prediction markets. A user named dududududu22 made a notable bet of over $177,000 on Polymarket, raising questions about insider knowledge. Despite the initial excitement, the value of these shares plummeted. Insider trading, while illegal in traditional markets, is viewed differently in prediction markets, where it has been linked to significant events and trades, highlighting a unique aspect of these platforms.
Read at The Verge
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